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Yahoo Inc is not opposed to Microsoft Corp's bid for the Web media company, as long as it is at the right price, Yahoo's board said on Monday in a letter to Microsoft chief executive Steve Ballmer.
"We have continued to make clear that we are not opposed to a transaction with Microsoft if it is in the best interests of our stockholders," the letter said. "Our position is simply that any transaction must be at a value that fully reflects the value of Yahoo, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders."
Yahoo Says It's Not Opposed To Microsoft Deal [uk.reuters.com]
That's fairly critical. If the deal starts and then falls through, that could be pretty painful for Yahoo.
And, given MS's past history with big deals falling apart, you can imagine how they might be a bit nervous about that.
MS should provide a very large deal guarantee.